Macroeconomics

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Long the bestseller for the intermediate macroeconomics course, Greg Mankiw’s superbly crafted textbook maintains its authority, currency, and vitality edition after edition, and the new Eighth Edition is the most accomplished yet. Again, Mankiw provides an exceptionally clear and concise introduction to the macroeconomy, taking full account of the 2007-2009 financial crisis and the measures taken in response to it. In addition to a new chapter directly inspired by the crisis (Chapter 20, TheFinancial System: Opportunities and Dangers) the new edition also features new research, discussions, and case studies throughout, as well as the most extensive media/supplements package available for any intermediate macroeconomics. You are welcome to use the new Financial System: Opportunities and Dangers chapter this semester with students. We will keep it posted through early June to allow free access for all who wish to have students read it.

Part I: Introduction1.The Science of Macroeconomics 2. The Data of Macroeconomics

Part II: Classical Theory: The Economy in the Long Run 3. National Income: Where It Comes From and Where It Goes New! 4. The Monetary System: What It Is, and How It Works5. Inflation: Its Causes, Effects, and Social Costs6. The Open Economy 7. Unemployment

Part III: Growth Theory: The Economy in the Very Long Run8. Economic Growth I: Capital Accumulation and Population Growth 9. Economic Growth II: Technology, Empirics, and Policy

Part IV: Business Cycle Theory: The Economy in the Short Run 10. Introduction to Economic Fluctuations 11. Aggregate Demand I: Building the IS-LM Model 12. Aggregate Demand II: Applying the IS-LM Model 13. The Open Economy Revisited: The Mundell-Fleming Model and the Exchange-Rate Regime 14. Aggregate Supply and the Short-run Tradeoff Between Inflation and Unemployment